Zcash’s shielded supply has stabilized at around 23% after rising sharply earlier in 2025, signaling sustained adoption of privacy features despite fading hype around the ZEC token. Users who embraced privacy tools have largely continued using them rather than abandoning them.

Interest in privacy is also spreading beyond Zcash, with projects like Monero seeing renewed attention and strong performance. As onchain payments and stablecoin usage grow, the tension between blockchain transparency and user privacy is becoming more evident, suggesting privacy-focused solutions will remain relevant into 2026 and beyond.